EVERYBODY, SING ALONG WITH DR. KRUGMAN.."TINY BUBBLES...":

Mortgage applications jump in latest week as interest rates stay down (Reuters, 10/04/06)

Applications for home mortgages jumped last week as the recent drop in long-term interest rates encouraged home buying and refinancing, an industry group said Wednesday.

The seasonally-adjusted index of total mortgage applications rose 11.9% in the week ended Sept. 29 to 633.9, its highest level since January, according to the Mortgage Bankers Association.